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ALTERNATIVE UNEMPLOYMENT RATES: The official unemployment rate estimated and reported monthly by the Bureau of Labor Statistics (BLS) using data from Current Population Survey is one of six alternative measures of unemployment tracked by the BLS, officially labeled U1-U6. The "official" unemployment rate is U3. The other five measures seek to document different ways in which labor can be underutilized, including unemployment duration, job losers, discouraged workers, marginally-attached workers, and part-time workers.
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Lesson 6: Supply | Unit 4: Determinants
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Page: 17 of 19
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- How relaxing the ceteris paribus assumption makes further analysis of supply and markets possible.
- How the changes in the supply determinants cause rightward or leftward shifts in the supply curve.
- The five basic supply determinants: resource prices, technology, prices of other goods, sellers' expectations, and number of sellers, and how each shifts the supply curve.
- How a change in the price of a substitute-in-production affects supply differently than a change in the price of a complement-in-production.
- Most important of all, the difference between a change in supply, caused by a change in a supply determinant, and a change in quantity supplied, caused by a change in price.
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LIBERAL A political view that favors--(1) paternalistic government, (2) correction of market failure with government intervention, (3) equal opportunities for all citizens regardless of race, age, gender, ethnic origin, or planet of origin, (4) redistribution of income and wealth, and (5) regulation and control by government over the profit-seeking businesses of the second estate.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time calling an endless list of 800 numbers wanting to buy either a coffee table shaped like the state of Florida or storage boxes for your summer clothes. Be on the lookout for malfunctioning pocket calculators.
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The 1909 Lincoln penny was the first U.S. coin with the likeness of a U.S. President.
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"The only place success comes before work is in the dictionary. " -- Vince Lombardi
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FIML
Full Information Maximum Likelihood
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